lifeline | Common News Update

Nov282020 by adminNo Comments

Ashley offers Green £50m lifeline amid tussle over Arcadia millions

Business

Mike Ashley is offering a £50m lifeline to keep Arcadia Group afloat amid a looming tussle between the high street's biggest beasts for control of Sir Philip Green's TopShop empire.Sky News has learnt that Mr Ashley's Frasers Group has drawn up plans for an emergency loan to Arcadia just hours before its board appoints administrators, putting 13,000 jobs at risk. The proposal will intensify the bitter rivalry between the two men, and mirrors similar tactics used by Mr Ashley prior to the collapse of other big retailers, including Debenhams, in recent years. Image: Arcadia's collapse would cap one of the most spectacular implosions in recent corporate history Chris Wootton, Frasers' chief financial officer, confirmed the offer on Satur...

Jul52020 by adminNo Comments

£1.57bn lifeline for arts – but no plans to resume live shows

Entertainment

A massive £1.57bn coronavirus lifeline for the arts is being promised by the government, but theatres and music venues could still remain closed until next year.The emergency cash aid, in grants and loans, has been welcomed by leading figures from the arts, but there will be dismay that there are still no plans to resume live performances. There are fears that many theatres, concert halls and other venues may not re-open until next summer, which would mean them remaining closed through Christmas - with no panto season. Image: UK culture has largely been confined to the internet - like this Take That show - since lockdown started in March Labour has dismissed the handout as "too little, too late" and a top Tory MP said it would only pr...

May182020 by adminNo Comments

How live entertainment is evolving online to be a lifeline in lockdown

Entertainment

From gigs to plays and quizzes, live entertainment has moved online during coronavirus lockdown - and creative minds are coming up with new ideas to give us back some of the human connection we've lost.Every Saturday for the past two months, Snow Patrol singer Gary Lightbody has sat down and written a song.Well, he has co-written a song - with 5,000 fans on Instagram.He asks them for chords, comes up with melodies, and puts them to a vote. He then asks for ideas for lyrics before coming back an hour later with a finished track. "Some are really good," he says. Lightbody also performs solo online gigs from home, but wanted to do something more collaborative too."You can say absolutely anything in...

Dec12019 by adminNo Comments

Zopa close to securing banking licence lifeline

Business

The peer-to-peer lender Zopa Group is this weekend finalising a £130m capital injection that will allow it to cling onto its ambition of becoming a challenger to Britain's biggest banks.Sky News has learnt that Zopa is in advanced talks about securing the funding from an entity connected to IAG Capital Partners, a US-based private investment firm, and Silverstripe, its UK vehicle. Sources said on Saturday that a deal was expected to be signed at the beginning of next week.If completed, it would come just before Zopa's banking licence-with-restrictions expires a year after it was granted.The additional funding is essential to the company's ability to fulfil regulatory capital requirements overseen by the banking and City regulators. ...

Sep132019 by adminNo Comments

Pawnbroker shuts shops as it seeks lifeline

Business

Customers of a High Street pawnbroker are being left in the dark after branches were closed and calls unanswered.A&B Pawnbrokers (Albemarle & Bond) and Herbert Brown stores have closed their doors, while its website says "this store" has ceased trading.Owner Speedloan Finance told the BBC all its 116 stores had been closed because of "significant losses".The firm said it was "exploring options available to it".These included finding a buyer for some or all of the stores, it said."Speedloan is due to enter into a period of consultation with employees concerning its proposal and has in the meantime offered its employees voluntary redundancy," it added.The pawnbrokers' trade body hit out at the firm's unanswered helpline."Their decision to downscale ...